Mercury Fund, a seed and early-stage venture capital firm investing in software and science-based startup companies, closed its third fund at $105m.
Limited partners in Mercury Fund III include several new institutional investors who joined existing institutional and high-net worth backers.
Led by Blair Garrou and and Dan Watkins, Ph.D., Mercury Fund invests in the “Midcontinent”, defined by the firm as the Southwest, Midwest and Rocky Mountain regions of the U.S., which has historically been rich in entrepreneurial and research-driven innovation, but lacking in early-stage venture capital.
Mercury, which has now over $200m of capital under management, has primary offices in Houston, Ann Arbor and San Diego, and secondary offices in Austin, Cincinnati and Chicago. The firm’s investment partners also include Ned Hill, Aziz Gilani, Danny Janiak, Ph.D., and Adrian Fortino.